As Malton approaches its October 2016 high of RM0.78 (a resistance level), we should be looking out for either an upside breakout of that resistance (which may lead to a sharp rally) or a failed test and pullback. If the latter developed, Malton could provide a good entry at about RM0.75. Currently, Malton is at RM0.76.
Chart 1: Malton's weekly chart as at Feb 2, 2017_9.30 (Source: MalaysiaStock.Biz)
The chart of Malton-WB is consistent with that of the share. It could be a good proxy to ride this play. Currently, Malton-WB is at RM0.195. Good entry is at RM0.17.
Chart 2: Malton-WB's weekly chart as at Feb 2, 2017_9.27
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